Trading for the Masses

17:53 TRB Tribune granted regulatory approvals by Federal Communications Commission (31.04 +0.05)

Co announced that the FCC has approved the transfer of its broadcasting licenses and the extension of its cross-ownership waivers in markets where the company owns both a television station and a newspaper. Tribune’s going-private transaction is expected to close by year end following satisfaction of the remaining closing conditions, including the receipt of a solvency opinion and completion of the committed financing.
17:46 UFS Domtar: Government of Saskatchewan withdraws from memorandum of understanding (7.60 +0.37)

Co was informed that the Government of the Province of Saskatchewan is not prepared to participate in the financing of the redevelopment of the Prince Albert pulp mill as set forth in a Memorandum of Understanding signed on September 12, 2007. Although Domtar recognizes that the Saskatchewan Government remains committed to ensuring the future of northern Saskatchewan’s forest resource, the Government’s decision to withdraw its support narrows down Domtar’s options regarding the Prince Albert facilities.
17:43 WMB Williams Cos agrees to acquire interests in Wamsutter LLC from Williams for $750 mln (34.71 +0.44)

Co announces that the partnership has agreed to acquire certain membership interests in Wamsutter LLC, the limited liability company that owns the Wamsutter system, from Williams for $750 mln.
17:39 GGBM Gigabeam CEO resigns - 8-K (1.20 -0.07)

In filing ” Effective November 28, 2007, Mr. Louis Slaughter resigned from his position as our Chief Executive Officer. Mr. Slaughter will remain as the Chairman of our Board of Directors. Also effective November 28, 2007, Mr. S. Jay Lawrence was appointed as our Chief Executive Officer and a Director. Prior to his appointment, Mr. Lawrence had served as our President and Chief Operating Officer since June 29, 2007. Mr. Lawrence will continue to serve our company in those capacities in addition to serving as our Chief Executive Officer.”
17:33 ISCA Intl Speedway announces termination of agreement to sell Staten Island property (42.61 0.00)

In a news release ealrier after the close, the co announced the termination of the agreement with ProLogis, a Maryland based real estate investment trust, for the sale of its Staten Island property. ProLogis terminated the agreement on November 27, 2007, prior to the expiration of the due diligence inspection period.
17:27 MKTIN Market Internals

The Dow was up 0.45% to close at 13371, the Nasdaq was down 0.27% to close at 2660, and the S&P was up 0.78% to close at 1481. Leading sectors included: Thrifts & Mortgages +14.3%, Homebuilding +9.8%, Healthcare Facilities +8.3%, Airlines +5.2%, Diversified Banks +2.7%. Lagging sectors included: Gold -3.3%, Healthcare Tech -2.9%, Computer Hardware -2.5%, Photo Products -1.9%, Semiconductors -1.4%. Today’s movement came from above average volume (NYSE 1923 vs. 1494 avg, Nasdaq 2562 vs. 2192 avg), with advancers outpacing decliners (NYSE 2335/961, Nasdaq 1660/1355) with new lows outpacing new highs (NYSE 121/82, Nasdaq 118/89)
17:19 ACL Alcon receives FDA approval of TRIESENCE injectable triamcinolone suspension for use in eye surgery (139.14 +2.97)

Co announces that the FDA has approved TRIESENCE 40 mg/mL, a preservative-free synthetic corticosteroid for visualization during vitrectomy and treatment of sympathetic ophthalmia, temporal arteritis, uveitis, and ocular inflammatory conditions unresponsive to topical corticosteroids.
17:01 SKH Skilled Healthcare hires Dev Ghose as EVP and CFO (15.15 -0.37)

Co announces that it has hired Dev Ghose to become Executive Vice President and Chief Financial Officer upon the departure of the current Treasurer and Chief Financial Officer, John King. Mr. King and the company have mutually agreed to end Mr. King’s employment following the preparation and filing of year-end reports in late March 2008. Mr. Ghose will join the co on January 17, 2008 during a transitional period until Mr. King’s departure.
17:00 WGOV Woodward Governor Board recommends stock split (65.54 +0.29)

Co announces that its Board of Directors voted to recommend to shareholders at its January 23, 2008 annual meeting a two-for-one split of the Common Stock of the company, and an increase in the authorized shares.
16:53 AMGN Amgen announces interim results of Aranesp ”PREPARE” study in breast cancer patients; no significant difference between the Aranesp and control groups. (55.25 -0.21)

Co announced that it had received interim results from the independent investigator-sponsored “PREPARE” study, an open-label, randomized, multicenter Phase 3 study of Aranesp in 733 neoadjuvant breast cancer patients receiving dose-dense, dose-intense preoperative chemotherapy compared to a standard preoperative chemotherapy regimen. The pre-specified interim results relate to the study period when chemotherapy and Aranesp were administered, and specifically address the tumor response to chemotherapy at the time of surgery. In this analysis, there was no significant difference between the Aranesp and control groups.
16:40 PSPT PeopleSupport confirms receipt of unsolicited proposal to be acquired for $15.00/share (14.05 +1.33)

Co confirmed that it received a letter from IPVG Corp. and AO Capital Partners proposing to acquire PeopleSupport for $15.00 per share. The Board of Directors of PeopleSupport will carefully consider and evaluate IPVG Corp. and AO Capital Partners’ unsolicited proposal. PeopleSupport recommends that all shareholders defer making any determination in reliance upon IPVG Corp. and AO Capital Partners’ unsolicited proposal at this time.
16:39 KNL Knoll announces 10b5-1 Plan (17.48 +0.07)

Co announces that it adopted a written trading plan under Rule 10b5-1 of the SEC to facilitate repurchases between December 1, 2007 and February 8, 2008 under its $50 mln share repurchase plan announced in February 2006. Under the Company 10b5-1 Plan, Bank of America Securities LLC will have the authority to repurchase up to an aggregate of $7.0 mln worth of Knoll common stock on behalf of the Company during the period. The Company 10b5-1 Plan does not require that any shares be purchased, and there can be no assurance that any shares will be purchased.
16:35 FSLR First Solar announces acquisition of Turner Renewable Energy for $3.4 mln (237.15 -1.03)

Co announced that it has acquired Turner Renewable Energy, LLC for a purchase price of approximately $34.3 mln paid in a combination of common stock of First Solar, Inc. and cash. The company will operate as a wholly owned subsidiary of First Solar, Inc. under the name First Solar Electric, LLC.
16:33 DEEP Superior Offshore Extends Closing for Acquisition of Ocean Flow International (6.17 +0.62)

Co announced it has amended its agreement and plan of merger with Ocean Flow International, L.L.C. to extend the deadline for the closing of the acquisition to December 28, 2007.
16:16 TSS Total System declares special dividend of $3.03 per share (28.04 +0.24) -Update-

Co announces its Board of Directors has declared a one-time special cash dividend of $600 mln ($3.03 per share) to be paid on a pro rata basis to its shareholders, including Synovus (SNV) , in connection with the previously announced spin-off to SNV’s shareholders of the shares of TSS stock currently owned by SNV.
16:14 TRB Tribune: FCC approved TRB waiver in 3-2 vote, according to people - Bloomberg (31.39 +0.05) -Update-

TRB to get ownership waivers from regulators - Bloomberg
16:02 Fed’s Poole says Central Bank should respond to risk of recession provided keeps long run price stability

When further rate cuts would ease financial turmoil, always appropriate for Feds to discuss. Says “just not true” Fed eases policy systematically when stock market drops, 1987 the exception.
16:02 Poole says no policy can prevent losses in subprime paper
16:02 GNW Genworth Financial announces $1 bln buyback (26.23 +1.65)
16:01 Fed’s Poole says everyone should believe central bank will respond to events that would cause recession

Poole says Fed cares about active markets, growth, not financial market prices per se.
16:01 Poole says Fed lacks power to keep market at ‘proper’ levels– Bberg
16:00 Poole says Fed may cushion stock prices as a byproduct of policy– Bberg